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There is very little to argue here ... The XBox 360 is far cheaper to play videogames on but there is the possibility or choice that it could be more expensive than the PS3. If you just want to play single player videogames on either console without downloadable content (which is the primary use of the HD consoles today) the XBox 360 will cost you $199 or $299 and the PS3 will cost you $400 (plus the cost of an HDMI cable if you want HD).

Features like wireless internet, online multiplayer, streaming video, and downloadable content are all nice features but less than half of users use any of them so it is difficult to say that one system is "Cheaper" than another based on features most people don't use.